Dogecoin is currently trading between $0.214 and $0.222, indicating a consolidation phase before a potential breakout. Analysts suggest the next wave could extend to $1.00–$1.40 based on historical patterns.
Current Market Position and Trading Range
As of the time of writing, Dogecoin is priced at $0.2157, reflecting a 0.46% decline in the past 24 hours. Its market capitalization stands at $32.53 billion, while daily trading volume is $1.71 billion. Despite a near 20% drop in activity, liquidity remains firm. Short-term trading is currently limited to the $0.214–$0.222 band. Buyers have repeatedly stepped in around $0.214 to defend support, while resistance at $0.222 has capped upward attempts.
Technical Structure and Uptrend
Market analyst Kamran Asghar noted that Dogecoin continues to follow a logarithmic uptrend on the weekly timeframe. He observed that each impulsive wave in its history has surpassed the previous one in magnitude. This structure could create the setup for a strong continuation rally. Earlier expansions delivered remarkable gains, including a 290% rise from the $0.12 base and a subsequent 440% move to the $0.48 region.
Outlook and Key Price Targets
Asghar projects that Dogecoin’s next upward wave may aim for the $0.75–$0.85 range, representing an 800% climb from the local base. Should that acceleration play out, the next expansion target would be in the $1.00-1.40 area, corresponding to a $1.2721618 Fibonacci extension of the previous impulse.
The analysis indicates that Dogecoin is at a critical juncture, preparing for a potential breakout. The success of this process will depend on maintaining key support levels and subsequent upward movement.
